Question: How long did it take $4625 earning 7.875% compounded annually to grow to $8481.61?

How long did it take $4625 earning 7.875% compounded annually to grow to $8481.61?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Given PV 4625 FV 8481... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1.Nelson borrowed $5000 for 4.5 years. For the first 2.5 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became 7.5% compounded semiannually. What total amount was...

Q:

1.Nelson borrowed $5000 for 4.5 years. For the first 2.5 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became 7.5% compounded semiannually. What total amount was...

Q:

What amount would have to be invested today for the future value to be $10,000 after 20 years if the rate of return is: a. 5% compounded quarterly? b. 7% compounded quarterly? c. 9% compounded...

Q:

1.Nelson borrowed $5000 for 4.5 years. For the first 2.5 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became 7.5% compounded semiannually. What total amount was...

Q:

2. What amount would have to be invested today for the future value to be $10,000 after 20 years if the rate of return is: a. 5% compounded quarterly? b. 7% compounded quarterly? c. 9% compounded...

Q:

1.Nelson borrowed $5000 for 4.5 years. For the first 2.5 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became 7.5% compounded semiannually. What total amount was...

Q:

How long did it take $4625 earning 7.875% compounded annually to grow to $8481.61?

Q:

How long did it take $4625 earning 7.875% compounded annually to grow to $848161? (Do not round your Intermediate calculations and round your answer to the nearest whole year.) It took years for the...

Q:

How long did it take $4625 earning 7.875% compounded annually to grow to $8481.61

Q:

How long did it take $4625 earning 4.375% compounded annually to grow to $6768.42?

Q:

The Columbus Electrical Company expects to have an annual taxable income of $650,000 from its residential accounts over the next two years. The company is bidding on a two-year wiring service for a...

Q:

What are the two main purposes for feedback in organizations?

Q:

Chen Corporation issued 1 0 - year bonds two years ago at a coupon rate of 7 . 5 percent. The bonds make semiannual payments. If these bonds currently sell for 1 0 5 percent of par value, what is the...

Q:

Sarah wants to deposit $12,000 at the end of each year for 9 years into an annuity. (a) Sarahs local bank offers an account paying 5% interest compounded annually. Find the final amount she will have...

Q:

(a) What is the present value of $10,000 due 8 periods from now, discounted at 10%? (b) What is the present value of $20,000 to be received at the end of each of 6 periods, discounted at 8%?

Q:

Presented below is the partial bond discount amortization schedule for Morales Corp. Morales uses the effective-interest method of amortization. Instructions(a) Prepare the journal entry to record...

Q:

Deane Company issues $5 million, 10-year, 9% bonds at 96, with interest payable on July 1 and January 1.The straight-line method is used to amortize bond discount. (a) Prepare the journal entry to...

Q:

10. Product J is one of the many products manufactured and sold by Oceanside Company. An income statement by product line for the past year indicated a net loss for Product J of $12,250. This net...

Q:

Test Company uses a normal, process costing system to determine product cost. The company reported the following production activity in Department 2 for July. Work-in-process inventory, July 1 Units...

Q:

Bradley Company has an accrual basis net income of $90,000 and the following related items: Depreciation expense $19,000 Accounts receivable increase 6,000 Inventory decrease 7,000 Accounts payable...